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Douglass, an imperfect forecaster, correctly predicts 22% of all bull markets and 87% of all bear markets. Simmonds is a perfect forecaster. If Douglass is

Douglass, an imperfect forecaster, correctly predicts 22% of all bull markets and 87% of all bear markets. Simmonds is a perfect forecaster. If Douglass is able to charge a fee of $24,300, the fee that Roy Simmonds should charge is __________. Assume that both forecasters manage similar-size funds.

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